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Topic: Buying an ASIC for mining - page 2. (Read 465 times)

newbie
Activity: 17
Merit: 0
November 21, 2017, 01:03:31 PM
#4
Its really hard to compete with the big dogs these days. Once upon a time, in the early days, I remember when anyone could partake. But now it is very hard to turn a profit.

So even when u use nicehash or a mining pool, it's very hard to get your money back?

using a mining pool or nicehash doesnt matter, you cant expect a %30-40 percent return if bitcoin prices dont change. If you think the prices will increase so you will make money from mining by that than go buy bitcoin instead of mining equipment.
Also I dont believe that you are using 0.26cent/kwh electricity that is extremely expensive. You are calculating something wrong or you are getting robbed.
newbie
Activity: 2
Merit: 0
November 21, 2017, 12:46:19 PM
#3
Its really hard to compete with the big dogs these days. Once upon a time, in the early days, I remember when anyone could partake. But now it is very hard to turn a profit.

So even when u use nicehash or a mining pool, it's very hard to get your money back?
legendary
Activity: 1540
Merit: 1029
November 21, 2017, 11:22:52 AM
#2
Its really hard to compete with the big dogs these days. Once upon a time, in the early days, I remember when anyone could partake. But now it is very hard to turn a profit.
newbie
Activity: 2
Merit: 0
November 21, 2017, 11:04:55 AM
#1
So after having some looks at bitcoin mining and setting up nicehash on my pc (single gtx 970) to have a look at how it works (ofcourse I won't be able to make any profit because of power consumption), I wondered if buying an Antminer S9 and starting to mine at home with a powercost of 0,26$/KwH would be profitable or will I just lose my investment.
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